Citing unacceptable terms in the current debt market, Expedia’s (NYSE: EXPE) chairman Barry Diller announced that the company is scaling back its stock repurchase program to a maximum of 25 million shares, down from the 116 million shares announced in June. The market reacted unfavorably to the announcement, driving the share price down over 12% [...]
Tag Archives | EXPE
Expedia backpedals on ASR plans; $1 billion in shareholder value destroyed
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Expedia, Inc. to Repurchase Up to $3.5 Billion of Stock in Tender Offer
Expedia, Inc. (Nasdaq: EXPE) announced plans to repurchase up to 116,666,665 shares of its common stock through a Dutch Auction at a price per share not less than $27.50 and not greater than $30.00. The 116,666,665 shares subject to the tender offer represent approximately 42% of the number of shares of common stock currently outstanding [...]
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